Travelers Companies (NYSE:TRV – Free Report) had its price target increased by Mizuho from $343.00 to $348.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.
A number of other equities research analysts have also recently weighed in on TRV. Wells Fargo & Company upped their price objective on shares of Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Seaport Research Partners set a $322.00 target price on shares of Travelers Companies in a report on Tuesday, May 26th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $356.00 price target (up from $342.00) on shares of Travelers Companies in a research report on Wednesday, July 8th. Truist Financial upped their price target on Travelers Companies from $395.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Barclays upped their price target on Travelers Companies from $295.00 to $318.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Four research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $354.53.
Read Our Latest Report on Travelers Companies
Travelers Companies Stock Performance
Travelers Companies (NYSE:TRV – Get Free Report) last released its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping analysts’ consensus estimates of $5.41 by $4.63. The firm had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.51 EPS. On average, equities analysts forecast that Travelers Companies will post 33.82 earnings per share for the current fiscal year.
Travelers Companies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 annualized dividend and a yield of 1.3%. Travelers Companies’s payout ratio is 13.39%.
Insider Transactions at Travelers Companies
In other news, EVP Daniel Yin sold 7,153 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the sale, the executive vice president owned 68,834 shares in the company, valued at $26,638,758. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mojgan Lefebvre sold 16,313 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $368.38, for a total transaction of $6,009,382.94. Following the sale, the executive vice president directly owned 9,213 shares of the company’s stock, valued at $3,393,884.94. This trade represents a 63.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 58,667 shares of company stock valued at $21,830,989. 1.39% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of TRV. BlackRock Inc. bought a new stake in Travelers Companies in the 2nd quarter worth about $6,915,909,000. State Street Corp lifted its stake in Travelers Companies by 3.1% during the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock valued at $4,641,093,000 after acquiring an additional 486,861 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock valued at $1,016,433,000 after acquiring an additional 123,564 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Travelers Companies during the 2nd quarter valued at about $932,142,000. Finally, Norges Bank bought a new stake in shares of Travelers Companies in the fourth quarter worth approximately $723,339,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.
About Travelers Companies
The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company serves individuals, businesses and public-sector organizations through a range of insurance offerings designed to help customers manage risks related to property, liability, transportation and other exposures.
Travelers’ principal businesses include Business Insurance, Bond & Specialty Insurance, and Personal Insurance. Its products and services include commercial property and casualty coverage, workers’ compensation, general and professional liability insurance, surety and fidelity bonds, cyber insurance, homeowners insurance, automobile insurance and other personal lines products.
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